Netflix (NASDAQ:NFLX) Stock Price Down 2.7% Following Insider Selling

Netflix, Inc. (NASDAQ:NFLX - Get Free Report)'s share price dropped 2.7% on Tuesday following insider selling activity. The company traded as low as $1,194.10 and last traded at $1,191.92. Approximately 1,229,633 shares were traded during trading, a decline of 67% from the average daily volume of 3,743,091 shares. The stock had previously closed at $1,224.46.

Specifically, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now owns 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of brokerages have recently commented on NFLX. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. KeyCorp boosted their price objective on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Bank of America boosted their price objective on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Finally, Rosenblatt Securities upped their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus target price of $1,149.91.

Netflix Stock Up 1.4%

The firm has a market cap of $519.15 billion, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $1,106.59 and a 200-day moving average of $994.50.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the business earned $8.28 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Institutional Trading of Netflix

Hedge funds have recently added to or reduced their stakes in the business. Kondo Wealth Advisors Inc. raised its stake in shares of Netflix by 5.9% in the 1st quarter. Kondo Wealth Advisors Inc. now owns 304 shares of the Internet television network's stock worth $283,000 after buying an additional 17 shares in the last quarter. 1248 Management LLC bought a new stake in shares of Netflix in the 1st quarter worth $58,000. Harold Davidson & Associates Inc. raised its stake in shares of Netflix by 6.4% in the 1st quarter. Harold Davidson & Associates Inc. now owns 466 shares of the Internet television network's stock worth $435,000 after buying an additional 28 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of Netflix by 231.6% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 63 shares of the Internet television network's stock worth $59,000 after buying an additional 44 shares in the last quarter. Finally, Cim Investment Management Inc. raised its stake in shares of Netflix by 6.7% in the 1st quarter. Cim Investment Management Inc. now owns 3,338 shares of the Internet television network's stock worth $3,113,000 after buying an additional 209 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.